RockYou Gets $17m from Softbank and SK Telecom Ventures
As noted on Gigaom this morning, social app maker RockYou has secured a $17 million round from Softbank and SK Telecom Ventures to bring their grand total to $67m. It’s always interesting to see investment into the social app space (especially when you start seeing blog posts like Scott Rafer’s Facebook Platform is Dead), but it’s particularly interesting given the world’s current economic situation.
Common wisdom suggests that RockYou is hoarding cash in preparation for a downturn in advertising budgets (which is where their revenue comes from), though they say they are planning to acquire some competitors and expand operations. They’re locked in a battle with Slide for king of social app ads, a well-funded competitor with ample experience.
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